Hamilton's E-Wave Analysis

SNC Lavalin Group revisited

snc may 27 2014 b

The big picture, the one on the left, allows for at least two different interpretations depending where you put the top. Also , if you are in the 40000 camp, it is not that difficult to “see” a triangle forming that requires just a little e down before we get the thrust up to $85 or higher. We are NOT in that camp, partly because the short –term chart, the one on  the right is decidedly unequivocally bearish. It is a near perfect a-b-c counter-trend rebound that is done. A break of $48 should confirm this but we would not wait for that. A sell now.